Moelis & Company $MC Holdings Decreased by London Co. of Virginia

London Co. of Virginia reduced its stake in Moelis & Company (NYSE:MC) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,903,947 shares of the asset manager’s stock after selling 158,032 shares during the period. London Co. of Virginia owned 3.70% of Moelis & Company worth $165,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wasatch Advisors LP grew its holdings in Moelis & Company by 9.0% during the first quarter. Wasatch Advisors LP now owns 3,742,624 shares of the asset manager’s stock worth $213,330,000 after acquiring an additional 310,001 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Moelis & Company by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,194,479 shares of the asset manager’s stock valued at $219,588,000 after purchasing an additional 66,697 shares in the last quarter. State Street Corp boosted its position in shares of Moelis & Company by 3.2% during the 2nd quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock valued at $178,381,000 after purchasing an additional 89,143 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Moelis & Company by 6.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock worth $149,333,000 after purchasing an additional 135,885 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Moelis & Company by 5.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,876,472 shares of the asset manager’s stock worth $128,989,000 after purchasing an additional 89,365 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MC. Morgan Stanley decreased their target price on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods decreased their target price on shares of Moelis & Company from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Friday, July 10th. Weiss Ratings cut shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. UBS Group reaffirmed a “sell” rating and issued a $60.00 price target (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Finally, Zacks Research raised Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.38.

Moelis & Company Stock Up 2.1%

Shares of MC opened at $66.97 on Friday. The company has a 50-day moving average price of $66.95 and a two-hundred day moving average price of $65.57. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 0.85 and a beta of 1.85. Moelis & Company has a 12 month low of $51.06 and a 12 month high of $78.22.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The business had revenue of $319.78 million during the quarter, compared to analyst estimates of $321.51 million. During the same period in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, May 11th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, May 11th. Moelis & Company’s payout ratio is 93.53%.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.